Many times, individuals and/or entities receive checks and/or cash from individuals and/or entities. Sometimes, the receiving individuals and/or entities may deposit the checks and/or cash in a bank account. The deposit may be executed by a human teller. The deposit may also be executed by an ATM.
A depositor may be required to fill out a counter deposit ticket when making a deposit, as opposed to a customized deposit ticket. The counter deposit ticket may include lines and/or boxes. There may be text beside the lines and/or boxes which indicate where a depositor should write his or her personal account information. For example, the counter deposit ticket may include a line for the account holder's name, a line for the account holder's phone number, a line for the account holder's address and/or a line for the account number.
A counter deposit ticket may also include a MICR line on the ticket. The MICR line may include MICR characters printed in magnetic ink. The MICR line may include encoded information. The information may be used during the processing of the deposit.
Conventionally, the MICR line on a counter deposit ticket included state-specific information. For example, the MICR line on a counter deposit ticket used in Missouri may be different from the MICR line of a counter deposit ticket used in California. In addition, the state-specific counter deposit ticket must match the domicile state of a depositor's account. For example, a depositor whose domicile state is California may be required to use a California-MICR counter deposit ticket. The domicile state of the account holder may be a state in which the account holder resides. The domicile state of the account holder may be the state in which the account holder opened up his or her account.
Difficulties may arise when using state-specific counter deposit tickets. One of the difficulties may be when a depositor moves and did not change the domicile state associated with his or her bank account. The depositor may not know that the counter deposit ticket he or she is using is domicile-state-specific. He may then bring the filled-out ticket to the teller only to find out that he has to fill out another ticket (possibly, an out-of-state counter deposit ticket) because his bank account domicile state is elsewhere. This may frustrate depositors.
It may be desirable to have a universal MICR line on the counter deposit ticket which can be used across the entire United States of America or the entire world.